Argentina defaulted again on May 22, 2020 by failing to pay $500 million on its due date to its creditors. Negotiations for the restructuring of $66 billion of its debt continue.
On 31 December, Fernández announced that he will send a bill in 2020 to discuss the legalization of abortion, ratified his support for its approval, and expressed his wish for "sensible debate”. However, in June 2020 he stated that he was "attending to more urgent matters" (referring to the COVID-19 pandemic, as well as the debt restructuring), and that "he'll send the bill at some point". In November 2020 Fernández's legal secretary, Vilma Ibarra, confirmed that the government would be sending a new bill for the legalization of abortion to the National Congress that month.
On 4 September 2020, Fernández signed a Necessity and Urgency Decree (Decreto 721/2020) establishing a 1% employment quota for trans and travesti people in the national public sector. The measure had been previously debated in the Chamber of Deputies as various prospective bills. The decree mandates that at any given point, at least 1% of all public sector workers in the national government must be transgender, as understood in the 2012 Gender Identity Law.
On 12 November 2020 Fernández signed a decree legalizing the self-cultivation and regulating the sales and subsidized access of medical cannabis, expanding upon a 2017 bill that legalized the use and research of the plant and its derivatives. In June 2019, during his presidential campaign, he had signalled his intention to legalize marihuana for recreational purposes but not other types of drugs.
Responses to the outbreak have included restrictions on commerce and movement, closure of borders, and the closure of schools and educational institutions. The announcement of the lockdown was generally well received, although there were concerns with its economic impact in the already delicate state of Argentina's economy, with analysts predicting at least 3% GDP decrease in 2020. Fernandez later announced a 700 billion pesos (US$11.1 billion) stimulus package, worth 2% of the country's GDP. After announced a mandatory quarantine to every person that returned to Argentina from highly affected countries, the government closed its borders, ports, and suspended flights.
Due to the national lockdown, the economical activity suffered a collapse of nearly 10% in March 2020 according to a consultant firm. The highest drop was of the construction sector (32%) versus March 2019. Every economical sector suffered a collapse, with finance, commerce, manufacturing industry and mining being the most affected. The agriculture sector was the least affected, but overall the economic activity for the first trimester of 2020 accumulates a 5% contraction. It is expected that the extension of the lockdown beyond April would increase the collapse of the Argentinian economy. On March, the primary fiscal deficit jumped to US$1,394 million, an 857% increase year-to-year. This was due to the public spending to combat the pandemic and the drop in tax collection due to low activity in a context of social isolation.
In June 2020 he told journalist Cristina Pérez to "go read the Constitution" after being questioned about his attempts to install a government-designated administration in the Vicentín agricultural conglomerate.